When it comes to bookkeeping services for a business, things can get quite overwhelming. This is why it is important to have professionals handle all the small details that you may overlook. At SmarTax, LCC, we specialize in small business accounting in Pembroke Pines. Our exceptional bookkeeping services are sure to cost you less than our competitor.
How Much Does It Cost?
You may be wondering how much you should be paying for bookkeeping each month. The costs a small business or nonprofit incurs for bookkeeping will depend upon many variables. You must consider everything. Company size and life cycle, number of monthly transactions, number of employees and how payroll is processed, number of expense accounts, credit cards, invoices to send out, bills to pay, number of balances sheets to reconcile, etc. In addition to these necessary bookkeeping activities, your costs will be impacted by how your accounting systems, policies and procedures, and reporting needs are set up and administered.
The Difference Between Small Business Accounting and Bookkeeping
Many small businesses in the early stages are primarily concerned with compliance. This consists of paying bills, getting paid, recording transactions, ensuring payroll accuracy and following state and federal regulations. At some point, your business will cross a threshold and you will begin to place more emphasis on the need for timely, accurate financial reports and intelligence. This is when you will need more advanced bookkeeping, accrual-based accounting and management or managerial accounting to help you make data-driven decisions.
What Does a Bookkeeper Do?
Generally, a bookkeeper is in charge of maintaining your books closely each day. They usually do all data entry for all account ledger or software. They also will focus on recording financial transactions of a business through maintaining records, creating financial reports, and track transaction.
Other duties include the following:
- Entering, Coding and Paying Bills
- Creating and Sending Customer Invoices
- Collecting Past Due Accounts Receivable
- Reconciling Bank and Credit Card Accounts
- Maintaining Vendors for Accounts Payable and Clients for Accounts Receivable
How Much Is It?
If basic bookkeeping is all that your company needs at this stage, you will need to decide whether to do the bookkeeping in-house or if you should outsource. If you decide to hire and manage a bookkeeper, you will also have to decide whether the position is part-time or requires a full time, full charge bookkeeper. If you decide to outsource, there are a few ways to go including local bookkeeping services, local CPA firms that offer bookkeeping services and specialized national outsourced bookkeeping firms. Luckily, you already found the perfect solution at a great price. You have found SmartTax.
Call Us Today For Bookkeeping Services
We are here to help, especially when it comes to an understanding of small business accounting. SmartTax, LLC in Pembroke Pines want to ensure you are ready and informed when it comes to your bookkeeping services. Call or visit our experts today for more information. We take pride in being the “best accountants near me”!